Intel says its third-quarter revenue is expected to be below the company’s previous outlook as a result of “weaker than expected demand in a challenging macroeconomic environment.” The company now expects third-quarter revenue to be $13.2 billion (plus or minus $300 million), compared to the previous expectation of $13.8 billion to $14.8 billion.

Intel is seeing customers reducing inventory in the supply chain versus the normal growth in third-quarter inventory; softness in the enterprise PC market segment; and slowing emerging market demand. The data center business is meeting expectations.